Elena Distaso
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Edison acquires control of Frendy Energy and launches mandatory public tender offer
Milan, 17 October 2017 - Edison announces that it has acquired a controlling interest in Frendy Energy S.p.A. (Frendy), through purchases today, from four different sellers, of 29,704,909 ordinary Frendy shares, representing 50.078% of capital, at the price of €0.34 per share, for a total outlay of €10,099,669.06.
Frendy's shares are admitted to trading on AIM Italia – Alternative Capital Market, organised and managed by Borsa Italiana S.p.A.
Consequently, as anticipated to the market, the requirements voluntarily cited in Art. 48 of Frendy's Articles of Association have been met, triggering the obligation for Edison to make a public tender offer for all of the remaining 29,612,338 Frendy shares. In accordance with the law, the consideration for the offer will also be €0.34 per each ordinary share (the “Mandatory Offer”).
It should also be noted that today Edison, as offeror, published the notice required by Art. 102, par.1, of the Consolidated Finance Act and Art. 37 of the Regulation on Issuers, in which it announced the Mandatory Offer pursuant to Articles 102 and 106, par. 1 of the Consolidated Finance Act.
Edison will file the related offering document with Consob by the legal deadline.
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Public disclosure requirements under CONSOB Resolution no. 11971 of 14 May 1999, as amended.
Frendy's shares are admitted to trading on AIM Italia – Alternative Capital Market, organised and managed by Borsa Italiana S.p.A.
Consequently, as anticipated to the market, the requirements voluntarily cited in Art. 48 of Frendy's Articles of Association have been met, triggering the obligation for Edison to make a public tender offer for all of the remaining 29,612,338 Frendy shares. In accordance with the law, the consideration for the offer will also be €0.34 per each ordinary share (the “Mandatory Offer”).
It should also be noted that today Edison, as offeror, published the notice required by Art. 102, par.1, of the Consolidated Finance Act and Art. 37 of the Regulation on Issuers, in which it announced the Mandatory Offer pursuant to Articles 102 and 106, par. 1 of the Consolidated Finance Act.
Edison will file the related offering document with Consob by the legal deadline.
***
Public disclosure requirements under CONSOB Resolution no. 11971 of 14 May 1999, as amended.
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